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India
Reported ownership for FY2027-Q1 as of 2026-06-30.
As of 06 Nov 2026, 03:30 pm
For the quarter ended September 30, 2026, consolidated revenue declined 4.9% to ₹1,453 crore and net profit fell 5.4% to ₹306 crore. Despite these declines, the EBITDA margin improved to 35.3%. The company also reported its highest-ever half-yearly EBITDA of ₹1,326 crore for H1 FY27.
Sarda Energy has obtained preferred bidder status for the Avagudem manganese block in Andhra Pradesh, which holds estimated reserves of 0.70 MT. Operations at this new site are expected to commence within 12–14 months from the filing date of November 2, 2026.
SEML maintains a net-debt-free balance sheet with liquidity exceeding ₹2,600 crore. Credit ratings were upgraded by CRISIL: SEML was raised to AA/Stable, and its subsidiary Sarda Metals & Alloys Limited (SMAL) was upgraded to AA-/Stable.
As of November 6, 2026, the stock closed at ₹436.90, reflecting a year-to-date return of -14.3% and a six-month return of -25.8%. Technical indicators show a bearish trend across daily, weekly, and monthly timeframes, with the stock currently trading near resistance levels around ₹437–₹441.
As of 06 Nov 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for FY27 Q2 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹1,528 crore | PEAK₹1,608 crore | ₹1,453 crore |
| Expenses | PEAK₹1,165 crore | ₹1,102 crore | ₹1,090 crore |
| Profit Before Exceptional Items And Tax | ₹431 crore | PEAK₹615 crore | ₹415 crore |
| Tax Expense | ₹116 crore | PEAK₹152 crore | ₹111 crore |
| Profit Loss For Period | ₹328 crore | PEAK₹478 crore | ₹320 crore |
Revenue from operations fell 9.7% quarter on quarter to ₹1,453 crore, while profit before tax declined 32.5% to ₹415 crore. Profit for the period was ₹320 crore, down 2.2% year on year, and diluted EPS was ₹8.68.
Revenue from operations was ₹1,453 crore in Q2 FY2026-27, compared with ₹1,608 crore in Q1 FY2026-27 and ₹1,528 crore in Q2 FY2025-26. It remained above revenue in Q3 FY2025-26, at ₹1,276 crore, and Q4 FY2025-26, at ₹1,254 crore. Total income declined 12.3% quarter on quarter to ₹1,505 crore.
Q2 marked a substantial pullback from Q1’s earnings peak: revenue declined 9.7% and profit before tax 32.5% quarter on quarter, while total expenses were little changed. Positive free cash flow and higher bank balances and other equity at period end provide balance-sheet context, but profit for the period and EPS were also lower year on year.
Exchange disclosures and regulatory announcements for Sarda Energy & Minerals.
Sarda Energy & Minerals Limited (SEML) filed the transcript of its Q2 and H1 FY27 Earnings Conference Call, conducted on November 2, 2026. The filing discloses record H1 FY27 financials with EBITDA of INR 1,326 crores (+4% YoY) and PAT of INR 799 crores (+5% YoY). Key operational developments include securing preferred bidder status for the Avagudem manganese block in Andhra Pradesh, achieving a record half-yearly pellet output of 429,059 tons at Raipur, and completing maintenance on a 300-megawatt unit of its 600-megawatt thermal power plant. Management highlighted that energy contributes over 75% of H1 EBITDA, confirmed net debt-free status with liquidity exceeding INR 2,600 crores as of September 30, 2026, and noted CRISIL upgrades to SEML’s credit rating from AA- to AA. Expansion plans include a brownfield expansion of the thermal plant from 600 MW to 1,200 MW, pending environmental clearance expected within the current financial year.
Sarda Energy & Minerals Limited (NSE: SARDAEN) filed a generic announcement with the NSE on November 7, 2026, disclosing the transcripts of an Analyst/Investor Meet regarding its Q2 FY27 earnings call. The earnings call concluded on November 2, 2026, at 17:40:00, and the corresponding transcript was uploaded to the company’s website on November 7, 2026, at 13:30:00.
Sarda Energy & Minerals Limited (SEML) filed an investor presentation with the NSE on November 2, 2026, detailing Q2 and H1 FY27 results. The company reported its highest-ever half-yearly EBITDA of ₹1,326 crore (up 4% YoY), driven by energy operations which contributed over 75% of consolidated EBITDA. Consolidated revenue for Q2 FY27 was ₹1,505 crore (-5.7% YoY), with PAT at ₹320 crore (-2.2% YoY). A key strategic development is SEML's entry into manganese mining via a preferred bidder status for the Avagudem block in Andhra Pradesh, holding estimated reserves of 0.70 MT, expected to start operations in 12-14 months. Financially, SEML maintains a net-debt-free balance sheet with liquidity exceeding ₹2,600 crore. Credit ratings were upgraded: CRISIL upgraded SEML to AA/Stable and its subsidiary Sarda Metals & Alloys Limited (SMAL) to AA-/Stable.
Sarda Energy & Minerals Limited submitted a disclosure to the NSE and BSE providing the audio recording link for an investor and analyst conference call held on November 2, 2026. The call was conducted pursuant to SEBI Listing Regulations to discuss the company's Q2 and H1 results for FY27.
Sarda Energy & Minerals Limited uploaded the audio recording of its analyst/investor earnings call to its website on 2026-11-02 at 18:35:00. The call concluded at 17:40:00 that day. The recording is available at the disclosed company weblink.
Sarda Energy & Minerals Limited’s Board of Directors approved the unaudited standalone and consolidated financial results for the second quarter and half-year ended September 30, 2026, on October 31, 2026. The statutory auditors issued unmodified opinions on these results. For the half-year ended September 30, 2026, consolidated revenue from operations was ₹3,060.88 crore (up from ₹3,160.89 crore in the prior year period), with a net profit attributable to owners of ₹764.14 crore (down from ₹757.54 crore). Standalone revenue from operations was ₹2,219.96 crore, with a net profit of ₹494.06 crore.
Integrated Filing- Financials|Original|
Integrated Filing- Financials|Original|
Recent market and company developments associated with Sarda Energy & Minerals.
Sarda Energy & Minerals reported a 5.4% year-on-year decline in consolidated net profit to ₹306 crore and a 4.9% revenue drop to ₹1,453 crore for Q2 FY27, while EBITDA margin improved to 35.3%. The company's shares fell 4.21% to ₹438.70 on the NSE on October 30 prior to the earnings announcement.
Syrma SGS has set a target of $1 billion in revenue for the next year, driven by strong growth in H1 and record Q2 FY27 results despite component shortages and PCB bottlenecks.
Muthoot Finance reported a 27% year-on-year growth in standalone profit to Rs 2,977 crore for the July-September quarter of FY27, driven by an increase in total income to Rs 8,842 crore from Rs 6,442 crore in the same period last year.
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Sunil Singhania's Abakkus Asset Management added two new stocks and increased holdings. The firm acquired stakes in Afcom Holdings and TTK Healthcare during the quarter. Abakkus also boosted its positions in Arvind Fashions and Cyient DLM. Holdings were reduced in five other companies, with likely exits noted. This activity reflects the veteran investor's ongoing portfolio adjustments and market strategy.
Comprehensive Section Breakdown for Sarda Energy & Minerals
Strategic Vision: Vertically integrated producer of steel, ferro alloys, and power.
• Vertically integrated operations from mining to manufacturing.
• Captive iron ore and manganese resources.
• Self-sufficiency in power generation.
Total expenses decreased 1.1% quarter on quarter to ₹1,090 crore from ₹1,102 crore in Q1 FY2026-27. Q2 costs included ₹658 crore for materials consumed, ₹82.6 crore for purchases of stock in trade and ₹217 crore in other expenses; other expenses were down 4.6% quarter on quarter.
Profit before tax was ₹415 crore, down from ₹615 crore in Q1 FY2026-27 and ₹431 crore in Q2 FY2025-26. Profit for the period fell to ₹320 crore from ₹478 crore in Q1, and was below ₹328 crore a year earlier. Tax expense was ₹111 crore, compared with ₹152 crore in Q1. Of Q2 profit, ₹306 crore was attributable to owners of the parent and ₹14.6 crore to non-controlling interests.
Diluted EPS from continuing and discontinued operations was ₹8.68, down 33.2% from ₹13.00 in Q1 FY2026-27 and 5.3% from ₹9.17 in Q2 FY2025-26.
Q2 operating cash flow was ₹981 crore; investing cash flow was an outflow of ₹663 crore and financing cash flow was an outflow of ₹357 crore. Free cash flow, calculated as operating cash flow plus investing cash flow, was ₹318 crore.
At 30 September 2026, cash and cash equivalents were ₹68.5 crore, compared with ₹107.6 crore at 31 March 2026. Bank balances other than cash and cash equivalents increased to ₹955 crore from ₹757 crore. Current investments stood at ₹1,604 crore, inventories at ₹803 crore and current trade receivables at ₹432 crore, up from ₹276 crore at 31 March.
Total assets rose to ₹12,174 crore from ₹11,371 crore at 31 March 2026. Other equity increased to ₹8,036 crore from ₹7,335 crore over the same period.
Category: Manufacturing
Manufactures various steel products including Sponge Iron, Steel Billets, and Wire Rods, supported by captive iron ore resources.
Category: Manufacturing
Significant producer and exporter of niche-grade manganese-based ferro alloys, utilizing captive manganese resources.
Category: Supply Chain
Acquires and operates iron ore and manganese mines in India and globally to ensure resource independence for its manufacturing operations.
Category: Manufacturing
Generates power through captive sources using waste heat and coal, and holds interests in hydro power projects to meet internal energy needs.
Core Thesis: Backward integration and self-sufficiency in energy and mineral resources enhance cost efficiency and resource independence across its operations.
• Captive Resource Utilization: Leverages captive iron ore and manganese mines to directly supply its steel and ferro alloy production facilities. • Energy Self-Sufficiency: Utilizes waste heat, coal, and hydro power projects for captive energy generation to support its manufacturing processes. • Vertical Integration: Controls the value chain from mining raw materials to producing finished steel and ferro alloy products.